Main points

Tech companies dominate the top 10 list of Britain’s best paying companies, a new study has found.

Three banking organisations and two consultancy companies also appear on the list, but the tech industry dominates, with five organisations making it into the top 10.

The research by jobs and recruiting site Glassdoor, which compared the median base salaries and compensation packages of UK companies, found that German software company SAP pays an average base salary of £75,000, which rises to £90,000 when the average bonus is included.

Another tech company places second, with data storage company EMC paying an average salary plus bonus of £86,500.

Dr Andrew Chamberlain, chief economist at Glassdoor, said that high pay packets in the tech industry are a result of a skills shortage.

He said: “Booming demand on a global scale for software engineers, database administrators and data scientists has far outpaced the supply of these skilled, hard-to-find employees. With tech companies scrambling to poach these valuable workers from competitors, a bidding war has pushed tech salaries to unprecedented heights in recent years.”

The UK's highest paying companies

Company

Industry

Median Compensation

Median Base Salary

SAP

Tech

£90,000

£75,000

EMC

Tech

£86,500

£70,000

McKinsey & Company

Consulting

£85,499

£78,000

Boston Consulting Group

Consulting

£83,311

£80,000

Facebook

Tech

£79,500

£68,420

Deutsche Bank

Banking

£75,000

£65,000

Nomura International

Banking

£74,990

£65,000

Cisco Systems

Tech

£74,000

£58,952.5

Google

Tech

£73,300

£60,225

BNP Paribas

Banking

£73,000

£62,000

Source: Glassdoor

Deutsche Bank, Nomura International and BNP Paribas represented the banking sector in the top 10, placing sixth, seventh and tenth respectfully. Andrew says that “high stress and big risks mean workers demand a premium in these roles”.

The rest of the list is occupied by consultancy firms, who pay their employees top dollar for their “personal contacts, reputations, and specialised skills and knowledge”.

Although a high rate of pay is a factor in long-term employee satisfaction, it is not viewed as a priority, the report said. Culture, values, career opportunities, and confidence in senior leadership are the biggest drivers of long-term employee satisfaction.